I am going long here based on an Ichi trading system (watch Josh O and Chaos trader 63 on youtube for more info on that). I am using the 4 hour to help me determine my high target, the 1 hour to determin trend basd on Ichi system, RSI, and Stoch. I have set my stop just below the Tenkansun on the 1 hour. Price will have to go through the Primary cloud support and Tenk to get to my stop. The R:R is only slighly over one but I trust in the system and my analysis. The one thing that concerns me is the falling wedge. I did not see this before going into my trade and may pull out of half of it for a very small profit. I placed my Target based on the intersection of two long term trend lines and the 4 hour cloud.
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Just took half profit at 7489 slighly below 1 hour resistance
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The rejection on 4hr from recent trendline and bearish candle formation. >>https://www.tradingview.com/chart/VBUOpklV/
Clearer Rejection on hourly and 15 Min along with concerning Bear volume. Lower Lows too>>>https://www.tradingview.com/chart/4ylXluie/
Next two support levels at $7333 and $7301
Clearer Rejection on hourly and 15 Min along with concerning Bear volume. Lower Lows too>>>https://www.tradingview.com/chart/4ylXluie/
Next two support levels at $7333 and $7301
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Here are the good links:
The rejection on 4hr from recent trendline and bearish candle formation. >> www.tradingview.com/chart/VBUOpklV/
Clearer Rejection on hourly and 15 Min along with concerning Bear volume. Lower Lows too>>> www.tradingview.com/chart/4ylXluie/
Next two support levels at $7333 and $730
The rejection on 4hr from recent trendline and bearish candle formation. >> www.tradingview.com/chart/VBUOpklV/
Clearer Rejection on hourly and 15 Min along with concerning Bear volume. Lower Lows too>>> www.tradingview.com/chart/4ylXluie/
Next two support levels at $7333 and $730
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Currently Forming a C-clamp on the Ichi 1 hour which signifies oversold levels. Still only simple bull Div on the 1 hour, but multiple Bull DIv on the 15 min a little bit earlier signalling reversal. If RSI drops below 38 on hte 15 min I will start to be concerned.
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Just broke the Kijun Support on the 15 Min. now testing 1 Hour fractal Support
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Also testing the cloud. If it breaks and closes beneath bothe the 15 min cloud and 1 hour fractal I will close manully because the trend has been invalidated
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Still valid cuz didnt close below the fractal on the 1 hour which is the timeframe I am really trading off of. I really need to see more consolidation here for the Tenkan and Kijun to reach equilibrium. This will increase the odds of my trade being successful.
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however the 15 min is not looking good.
Сделка закрыта: достигнута стоп-лосс цена:
Stop got reached before the hourly closed below the fractal where I would have manually taken it out
www.tradingview.com/chart/VBUOpklV/